The provider of omnichannel payment solutions, PhiCommerce, has raised $10 million in its Series A1 funding round, which was led by BEENEXT and included participation from Opus Ventures.
In January 2021, BEENEXT led a $4 million Series A round for the startup located in Pune. According to a press release from the company, PhiCommerce will use the additional funding to expand into foreign markets and develop cutting-edge products that will further improve the payments ecosystem.
PhiCommerce is a modern payment solutions provider that offers banks, networks, and companies an end-to-end, unified, omnichannel digital payments platform. Giving every consumer a streamlined, safe, scalable, and frictionless payment experience, this helps address complex digital payment needs.
With value-added plug-ins for a variety of industry segments, PhiCommerce’s flagship product PayPhi is a one-stop shop that enables businesses to accept digital payments across online, in-store, mobile, and doorstep channels.
The business is one of National Payments Corporation of India’s (NPCI) principal platform partners.
BEENEXT, a Singaporean startup investment firm, focuses on early-stage tech companies that are developing new digital platforms powered by data networks. Simplilearn, NoBroker, Tata 1mg, Zomato, PhonePe, CRED, Policybazaar, Paytm, Nykaa, and Lenskart are a few of the companies in its portfolio.
